Hello, A recent article on Newsweek.com suggested that the number one way to spend the “stimulus” check from the government was to pay down debt.
But is that really a good way to grow the economy?
“If you like to shop, score bargains and receive personal service, using your stimulus check to pay down debt could cause you to lose in the long run when your favorite local businesses go belly up and your shopping options become severely limited,” says Jimmy Vee, co-author of Gravitational Marketing: The Science of Attracting Customers.
The book, which became #1 on Amazon's list of marketing and business management books as well as #21 overall in March, tells how they turned a $200 investment into a multi-million dollar enterprise and explains how Gravitational Marketing can be harnessed to drive sales for any company on a shoestring budget.
"Small businesses are the lifeblood of our country, and your stimulus check could be life or death for local shopping. The best way to stimulate the economy is to spend your check with your favorite local small business."
According to estimates based on 2006 data from the U.S. Dept. of Commerce, Bureau of the Census, and U.S. Department of Labor there were 27 million businesses in the United State and 99.7% of them are classified as small businesses.
Last year's ADP National Employment Report stated small businesses added more jobs than medium and large-size businesses combined, which demonstrates the enormous impact small businesses have on the health of our economy.
Shoppers don't have to be victims of a recession that robs them of their beloved boutiques and favorite haunts. You can take your fate into your own hands and fight back.
Five Ways You Can Save Small Businesses
1. Spend Your Stimulus Check: Don’t pay off debt. Don’t invest your check. Spend your refund where it is meant to be spent: on small businesses. Your favorite local business will love you for it, your local economy will be better for it and the American economy will benefit greatly.
2. Shop: Show your support with your wallet and continue to shop, spend and buy as normal. Even with a recession hanging over your head, if you continue to spend money as normal you will have a positive impact on the economy instead of a negative one.
3. Refer: Become a customer evangelist for your favorite small business. Tell all your friends and family that it’s a great place to shop and spur them to try it.
4. Give Feedback: Talk to the business owner. Tell them what you like about their establishment and what you don’t like. Your input can help the business owner innovate and stimulate new sales opportunities.
5. Join Your Local Chamber of Commerce: Stay involved with your local small business community by getting involved with your local chamber of commerce.
If you want to interview Jimmy Vee and Travis Miller about the potential impact of stimulus checks on small businesses or want to know more about their book, please let me know. I look forward to hearing from you.
Best, Frank
__ Frank W. Martin Managing Director/Chicago Planned Television Arts, a division of Ruder Finn 211 E. Ontario, Suite 1600 Chicago, IL 60611 312.329.3980 www.plannedtvarts.com martinf at plannedtvarts.com